Largest Worldwide Companies That Influence Nigeria
Nigeria has thousands of companies and brands unique to the country and the people, which means the world’s largest companies have little to no influence here, and companies that want to stay in business have to cater to the locale. Between marketing, general needs (usefulness), and user-friendliness, some companies have become the most popular in their country, bypassing international giants.
Google has managed to beat the competition in every country (except those restricting or banning Google altogether). Chrome remains the most popular browser choice in Nigeria since 2012, and other countries follow similar patterns. Before Google’s expansion in the 2010s, most countries had various browsers that they would choose between, including Internet Explorer and Firefox. Google’s automation has made it the best browser, catering to multiple countries and languages and making it possible for customers to customize as necessary.
One industry that has not turned into a universal brand is banking. Presumably, because each country has its own currencies, laws, needs, and therefore, banks. The First Bank of Nigeria has the largest market share of any bank in this country, valued at around NGN 5.9 trillion. While across Europe, the Americas, and some of Asia, brands like J.P. Morgan Chase, the Industrial and Commercial Bank of China, HSBC Holdings, and many others share in market popularity. Banking companies popularized in the U.S., Europe, and Asia have yet to make their mark in Nigeria or most other African markets.
Coca-Cola is another brand that holds worldwide popularity. One of the largest food and beverage companies worldwide, you can commonly find this brand stamped across a multitude of items in any local supermarket or store. No matter where you travel, you’ll see the classic red-and-white logo. Part of what has made them so successful in various countries, despite being an American brand, is simply time. From a small beverage company founded in 1982, they have created different popular drinks and snacks and used their money to acquire smaller companies that have become part of the Coca-Cola brand. They have always provided excellent marketing, appealing to a variety of cultures and languages by showcasing their product in ways that appeal to each specific area they were expanding in. Nestle, another prominent brand, functions the same way and has also become one of the country’s largest publicly traded companies.
Marketing plays a significant role in how companies are viewed in different countries and contributes to how widely they are used. For example, casino brands that originate in various parts of the world have had to modify their brands, pages, and even games they offer in order to become popular in other countries. Take India, for example, where many local brands have tried to localize their content and are still beaten by foreign brands that excel at casino marketing.
Throughout this country, international brands don’t make as much of an effort, leaving Nigerian brands to become famous and control most of the market. In fact, a recent report shows that 70 percent of Nigeria’s top 10 brands are local rather than foreign. Dangote Group, MTN, and Globacom remain at the top three positions. Market reports predict that Nigerian-owned companies will continue to stay at the top – at least until other worldwide brands figure out how to become prominent.
